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Finally, Here’s a Way to Get that Equipment You Need

For most businesses, important equipment and machinery are needed to support operations or continue growth.

Whether it’s the latest IT devices, specialised warehouse equipment or heavy machinery, getting a business loan can provide you with the means to help you with your business purchase.

Team up with Exceed Financial Solutions so you can find the latest equipment loan and compare different options available in Brisbane.

Affordable Equipment Financing

There are numerous banks and non-bank lenders in Brisbane that offer commercial financing for business owners or sole traders looking to buy new equipment.

But with such overwhelming choices, you may find it overwhelming to review the interest rates, loan structure and other important details on your own.

To help you navigate this complexity, you can work with a business loan broker to better understand the important aspects of commercial financing.

Expert Business Loan Brokers

Purchasing equipment or machinery for your business is a crucial decision. Getting help from an expert have always been recommended.

The common error to avoid with commercial equipment financing is signing up for a deal that you can’t afford in the long run. It’s essential to review all the details and assess your business situation before you apply for a loan.

Seeking help from an expert business loan broker in Brisbane is often the best way to make certain you make the right choice.

Equipment Loan FAQs

What type of equipment can I get a loan for?

Equipment loans are available to provide you with the needed money to buy important equipment that you need for your business.

There’s no definitive list on what type of equipment that you can get a loan for as each lender will review your application individually.

But most banks will provide you with the funds to buy common business equipment or machinery such as a forklift to transport stocks to your warehouse, special medical equipment for your clinic or computer servers to upgrade your operations.

How does equipment financing work

Equipment financing provides you access to whatever essential business equipment you need without the need to pay for it upfront.

Instead, you’ll have the money you need from your bank or lender than pay it off over a set of repayment terms.

To put it simply, you can start using your equipment even without the available cash you need.

How do you get equipment financing?

Similar to most business loans, you can get equipment financing through a bank or non-bank lender of your choice.

Every equipment loan provider has its own set of procedure in approving a loan, but here are the common steps:

  1. Talk to a loan officer or loan broker to help you assess your business situation and need for equipment
  2. Once you are certain that you need an equipment loan, you can fill out an application form and submit to your chosen lender
  3. Once approved, the lender will send you the money you need so you can buy the equipment

Do I need to put collateral for an equipment loan?

Most equipment loans in Brisbane are considered secured business loans, in which the asset you want to purchase may be used as security or collateral for the loan.

So if you fail to service the loan, the bank may claim ownership of the equipment.

It is best to work with a loan broker to help you understand about putting collateral for an equipment loan.

Exceed Financial Solutions is here to help you find the best commercial financing for your business.